Under this promotion, monthly payments for the iPhone 5 will be $27, while payments for the Galaxy S 4 and HTC One will be $25. With a down payment, the iPhone 5's monthly cost is $21 and the GS4 and HTC One's monthly payments are $20.

The promotion is available for a limited time. T-Mobile did not say what day it expires.

The no-money-down promotion is the second unique plan by T-Mobile this month. Earlier in July, the company also announced a plan called Jump that lets users upgrade their phones twice a year.